Vox, January 13, 2016: President Obama says he and Paul Ryan can agree on fighting poverty. That’s half right.
“This is a slightly obscure reference without context, but Obama is specifically talking about plans both he and Ryan have put forward to expand the earned income tax credit, the biggest federal program supporting the working poor. The plans are so similar, they’re nearly identical. They both want to double the credit’s maximum value from $503 to $1,005. They both want to increase the phase-in/phase-out rates to 15.3 percent. They both want phase-out to start at $11,500 for single, childless people rather than $8,220.”